Otis Worldwide (NYSE:OTIS) Issues Quarterly Earnings Results, Hits Expectations

Otis Worldwide (NYSE:OTIS) posted its earnings results on Wednesday. The company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01, FiscalAI reports. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Otis Worldwide had a negative return on equity of 29.39% and a net margin of 10.11%. Otis Worldwide updated its FY 2026 guidance to 4.010-4.050 EPS.

Otis Worldwide Price Performance

Shares of OTIS opened at $71.89 on Wednesday. The firm’s 50 day moving average is $72.03 and its 200-day moving average is $80.27. Otis Worldwide has a 12-month low of $69.16 and a 12-month high of $101.14. The stock has a market capitalization of $27.59 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.64 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OTIS. Wolfe Research cut Otis Worldwide from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 8th. Sanford C. Bernstein initiated coverage on Otis Worldwide in a research note on Tuesday, June 9th. They set an “outperform” rating and a $97.00 price target for the company. Evercore assumed coverage on Otis Worldwide in a research report on Monday, April 13th. They set an “outperform” rating and a $100.00 price target on the stock. UBS Group set a $105.00 price objective on Otis Worldwide in a research note on Thursday, April 23rd. Finally, Morgan Stanley set a $88.00 price objective on Otis Worldwide in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Otis Worldwide currently has a consensus rating of “Hold” and a consensus price target of $96.55.

Institutional Trading of Otis Worldwide

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC lifted its position in shares of Otis Worldwide by 15.5% during the 4th quarter. Corient Private Wealth LLC now owns 151,180 shares of the company’s stock valued at $13,053,000 after acquiring an additional 20,289 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Otis Worldwide by 3.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 63,417 shares of the company’s stock worth $5,540,000 after acquiring an additional 1,983 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Otis Worldwide in the 4th quarter worth $5,668,000. FAS Wealth Partners Inc. acquired a new stake in shares of Otis Worldwide during the fourth quarter worth $200,000. Finally, First Citizens Bank & Trust Co. raised its position in shares of Otis Worldwide by 12.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 3,283 shares of the company’s stock worth $287,000 after purchasing an additional 371 shares during the period. 88.03% of the stock is currently owned by institutional investors.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.